Common use of Operation and Management Clause in Contracts

Operation and Management. From the date hereof to the Closing Date, Seller shall operate and manage the Property in the same manner as it has been operated and managed heretofore, provided that during said period, without the prior written consent of Purchaser (which consent shall not be unreasonably withheld or delayed and shall be deemed given if Purchaser fails to respond to a request for consent within five (5) days), Seller shall not do, suffer or permit, or agree to do, any of the following: (i) Enter into any transaction with respect to or affecting the Property out of the ordinary course of business; (ii) Sell, encumber or grant any interest in the Property or any part thereof in any form or manner whatsoever; (iii) Enter into, amend, waive any rights under, terminate or extend any Contract or Lease (except in connection with the ▇▇▇▇▇▇▇ TI Work); or (iv) Remove from the Real Property any of the fixtures thereon or any of the Personal Property except if replaced with fixtures or Personal Property of equal or greater value and utility (other than in connection with the ▇▇▇▇▇▇▇ TI Work).

Operation and Management. From the date hereof to the Closing Date, Seller shall operate and manage the Property in the same manner as it has been operated and managed heretofore, provided that during said period, without the prior written consent of Purchaser (which consent shall not be unreasonably withheld or delayed and shall be deemed given if Purchaser fails to respond to a request for consent within five (5) days), Seller shall not do, suffer or permit, or agree to do, any of the following: (i) Enter into any transaction with respect to or affecting the Property out of the ordinary course of business; (ii) Sell, encumber or grant any interest in the Property or any part thereof in any form or manner whatsoever; (iii) Enter into, amend, waive any rights under, terminate or extend any Contract or Lease (except in connection with the ▇▇▇▇▇▇▇ TI WorkWork or the construction or leasing of the Vacant Space); or (iv) Remove from the Real Property any of the fixtures thereon or any of the Personal Property except if replaced with fixtures or Personal Property of equal or greater value and utility (other than in connection with the ▇▇▇▇▇▇▇ TI WorkWork or the construction of the Vacant Space).